Annual Report 30 June 2007 - One Horizon Group

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12 GROUP PROFIT AND LOSS ACCOUNT Year ended 30 June 2007 30 June 2007 30 June 2006 Note $000’s $000’s $000’s Turnover Continuing operations 46,517 51,018 Acquisitions 11,496 – 58,013 51,018 Discontinued operations – 540 Group turnover 2 58,013 51,558 Cost of sales 3 (44,212) (41,412) Gross profit 13,801 10,146 Net operating expenses 3 (9,240) (6,775) Operating profit 4 Continuing operations 4,155 3,491 Acquisitions 406 – 4,561 3,491 Discontinued operations (–) (120) Group operating profit 4,561 3,371 Loss on disposal of fixed asset investments (–) (10) Profit on ordinary activities before interest 4,561 3,361 Interest receivable 346 303 Finance costs 7 Interest payable and similar charges (1,106) (748) Amortisation of issue costs on convertible loan stock (122) (114) (1,228) (862) Profit on ordinary activities before taxation 2 3,679 2,802 Tax on profit on ordinary activities 9 (794) (890) Profit on ordinary activities after taxation 2,885 1,912 Minority interests 74 69 Profit attributable to members of the Parent Company (carried forward) 10 2,959 1,981 Profit attributable to members of the Parent Company (brought forward) 10 2,959 1,981 Dividends 11 (235) (78) Retained profit 2,724 1,903 Earnings per share Basic earnings per ordinary share 8 $0.0526 $0.0387 Diluted earnings per ordinary share 8 $0.0512 $0.0385 The Group has no recognised gains or losses other than the results for the period as set out above. There is no difference between the profits shown above and their historical cost equivalents. The notes on pages 16 to 32 form part of these financial statements.
GROUP BALANCE SHEET As at 30 June 2007 30 June 2007 30 June 2006 Note $000’s $000’s $000’s Fixed assets Intangible assets 12 13,008 5,869 Tangible assets 13 975 746 13,983 6,615 Current assets Stocks 15 5,588 3,216 Debtors 16 17,582 11,357 Cash at bank and in hand 17 959 1,901 24,129 16,474 Creditors: Amounts falling due within one year 18 20,513 15,907 Net current assets 3,616 567 Total assets less current liabilities 17,599 7,182 Creditors: Amounts falling due after more than one year 19 8,174 5,141 9,425 2,041 Provisions for liabilities and charges Deferred taxation 21 – – 9,425 2,041 Minority interests 69 18 9,494 2,059 Capital and reserves Called up share capital 24 6,053 5,250 Share premium account 25 4,845 723 Merger reserve 25 (10,884) (10,884) Contingent share capital 26 500 714 Profit and loss account 25 8,980 6,256 Equity shareholders’ funds 27 9,494 2,059 These financial statements were approved by the Board and authorised for issue on 8 October 2007 and were signed on its behalf by: Mark White Martin Ward Chief Executive Officer Chief Financial Officer The notes on pages 16 to 32 form part of these financial statements. 13
Page 1 and 2: Annual Report 30 June 2007 SatCom G
Page 3 and 4: CONTENTS Chairman’s statement 2 C
Page 5 and 6: CHIEF EXECUTIVE’S STATEMENT Highl
Page 7 and 8: DIRECTORS, OFFICERS AND ADVISERS Di
Page 9 and 10: Share options No Directors had inte
Page 11 and 12: ut not absolute, assurance with reg
Page 13: INDEPENDENT AUDITORS’ REPORT to t
Page 17 and 18: GROUP CASH FLOW STATEMENT Year ende
Page 19 and 20: 1. Accounting policies (continued)
Page 21 and 22: 4. Operating profit 30 June 2007 30
Page 23 and 24: 8. Earnings per share Basic earning
Page 25 and 26: 13. Tangible fixed assets Short Lea
Page 27 and 28: 15. Stocks Group Company 30 June 20
Page 29 and 30: 21. Deferred taxation The movement
Page 31 and 32: 24. Share capital Authorised share
Page 33 and 34: 27. Reconciliation of movements in
Page 35 and 36: HORIZON MOBILE COMMUNICATIONS HORIZ

Annual Report 30 June 2007 - One Horizon Group

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